St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-08
FINANCIAL.
New York.

NEW YORK, Sept. money on call was
active at 4@7 per cent; last loan, dip; closed
offered at 4. Prime mercantile paper, 709c
Sterling exchange dull and steady at 4.79A
@4.SO for 60-day bills and 81. s3I2@4 "a for
demand. The stock market to-day was fever
ish and irregular throughout, with the gen.
eral tendency at first IN the direction of
higher figures, but decided weakness devel-
oped before the close. There was no pres
sure of long stock, but the bear clique, by the
persistent circulation of unfavorable rumors
aggravated the feeling of uncertainty which
again appeared in the market. Stories of
hitch in the Baltimore & Ohio deal and of
the unsettled condition of rates in the South
west were of most influence, and were sup
plemented by the rejection of all offers of
bonds by the secretary of the treasury to-day.
On the other hand an assertion that the pas
senger rate war in the Northwest had come
to an end had a stimulating effect in the fore
noon, though lack of confirmation neu-
stocks most pressure was brought against
Reading. Western Union, New England and
Canada Southern, though the firmness of the
Vanderbllts was special feature OF the fore
ranged upon the side of lower prices, and
their efforts were of material effect in bring
ing about the declines established The mar
ket vibrated quickly all day long between ac-
t1v1ty and declines and strength and weak
ness. The opening was decidedly weak,
and, while the general list was down from u
to "a per cent. from yesterdays final figures,
Missouri Pacific and Canada Southern were
exceptional, with declines of 1Is and 1ss re-
spectively. The market was comparatively
quiet, and prices sagged slowly in the early
dealings. Manhattan and Reading showing
most weakness. The losses were regained by
noon, however, with fractions in addition,
the market showing more animation on the
rise. which was led by New England. The
advance eliminated by noon, after which
stagnation was the feature for the space of
nearly two hours, with a general sagging
tendency to prices. Decided weakness was
developed in the last hour, however, and the
lowest prices were reached shortly
before the close, which was active
and heavy. Almost everything is
decidedly lower and Canada Southern is
down 276 Reading, 2ls; Norfolk 4 western.
preferred 17s Missouri Pacific, Iss; Lacka-
wanna, ia; Western Union and Texas Paci-
fic, 15s; Jersey Central Colorado Coal, Lake
Shore, Northern Pacific preferred, Omaha
and Richmond d. West Point, Ia; st. Paul
and Louisville & Nashville, 1Is: Union Pa
citic 1. Railroad bonds sympathized closely
with stocks. The market was dull through
out. Sales, 1878, 900. Denver q Rio Grande
assented lost at 65I2; Baltimore d Ohio,
Parkersburg Is rose 8 to I25; Northwestern
new debentures to los, and Mutual Union
6s 2l2 to S6l2. Government bonds were dull
but steady. State bonds were neglected.
The total sales of stocks to-day were 34O92I
shares, including:
Can. Southern. 5,s5OIOregon Trans. $500
D., L. III 900 Reading .1O2,77O
Erie. Id. 145I st. Paul ... 1OSOO
Lake Shore. $50 Texas Pacific. 1850
Louis. d Nash. $3.50 Union Pacific 1886
Mis- Pacific. 7,415 Western Union.44, $50
Northwestern. 6,1O0IWh d. L. E.. 5,6IO
nfd